The 155mm Ammunition Global Market Report 2023, provides comprehensive information on the 155mm ammunition market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s 155mm Ammunition Global Market Report 2023, the global 155mm ammunition market is expected to grow from $3.43 billion in 2022 to $3.52 billion in 2023 at a compound annual growth rate (CAGR) of 3.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The 155mm ammunition market is expected to reach $4.05 billion in 2027 at a CAGR of 3.5%.
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The development of new propellants is a key trend gaining popularity in the 155mm ammunition market. Major companies in the 155mm ammunition market are introducing innovative propellant designs to sustain their position in the market. For instance, in September 2022, Rheinmetall, a Germany-based arms manufacturer, launched its latest L58 extended-range artillery propellant charge technology. The new technology increases the firing range by 10% as compared to previous artillery propellants previously used by armies and is capable of increasing the entirety of the operational temperature profile, including in ambient scenarios. It was developed by conducting R&D on the L39 and L52 versions of the 155mm extended range charge.
The 155mm ammunition market is segmented:
1) By Technology: Guided, Unguided
2) By Application: Projectiles, Propellants, Tanks, Other Applications
3) By End User: Naval Forces, Ground Forces
Asia-Pacific was the largest region in the 155mm ammunition market in 2022.
The table of contents in TBRC’s 155mm ammunition market report includes:
- Executive Summary
- 155mm Ammunition Market Characteristics
- 155mm Ammunition Market Trends And Strategies
- 155mm Ammunition Market – Macro Economic Scenario
- Global 155mm Ammunition Market Size and Growth
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- Global 155mm Ammunition Market Competitive Benchmarking
- Global 155mm Ammunition Market Competitive Dashboard
- Key Mergers And Acquisitions In The 155mm Ammunition Market
- 155mm Ammunition Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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